DGAP-News: Medios AG / Key word(s): Half Year Results/Interim Report
Medios AG: Publication of the half-year report 2020
Berlin, 25 August 2020 – Medios AG (“Medios”), one of the leading Specialty Pharma companies in Germany, has continued its dynamic sales growth in the first half of 2020. According to the half-year report published today, group sales in the period from January to June 2020 increased by 28.2% to €292.9 million (previous year €228.5 million) compared to the same period of the previous year. The results were burdened by corona-related special effects and growth investments. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for extraordinary expenses*, amounted to €6.5 million (previous year €7.7 million). Consolidated earnings before taxes (EBT), adjusted for extraordinary expenses*, amounted to €4.9 million (previous year €6.8 million). The key figures thus correspond to the preliminary half-year figures already published on 5 August 2020. Medios confirms the forecast adjusted at the beginning of August: Corona-related special effects will continue in the second half of 2020 – but the company still expects dynamic sales growth.
In the first half of 2020, the Pharmaceutical Supply segment recorded a 28.3% increase in sales revenues to €262.1 million (previous year €204.3 million). Sales in the Patient-specific Therapies segment rose by 26.7% to €30.6 million (previous year: €24.2 million). The internal Services segment achieved sales of €0.2 million (previous year €0.1 million).
Manfred Schneider, CEO of Medios AG: “The general conditions for Medios have become more challenging in the first half of 2020. Nevertheless, we were able to increase our sales by almost 30 percent. The current demand situation makes us confident to continue the dynamic growth in the future and to close the financial year 2020 with a significant sales increase.”
Corona-related special effects
The ordered quota allocation of supply-relevant drugs also led to a deterioration in purchasing conditions for pharmaceutical wholesalers in terms of higher purchase prices. However, Medios did not pass these on to partner pharmacies in order to be able to supply customers as usual during the Corona pandemic. This effect continued unexpectedly throughout the entire second quarter, resulting in lower profit margins than planned.
According to the BfArM, the ordered measures apply “for the period of the corona pandemic”.
Growth and special effects
Matthias Gärtner, CFO of Medios AG: “With the already completed takeover of Kölsche Blister GmbH and the pharmacy obligation for hemophilia preparations, which will become effective in September, two highly attractive markets are opening up for Medios. By developing these markets we can put our growth on an even broader basis.”
According to the forecast adjusted on 5 August 2020, Medios expects consolidated sales for the 2020 financial year – including the acquisition of Kölsche Blister GmbH in March 2020 – to amount to around €610 to 630 million. In addition, Medios expects an adjusted EBITDA* of around €14 to 15 million and an adjusted EBT* of around €11.5 to 12.5 million. Furthermore, the company remains optimistic that it will be able to reach the one billion € mark in sales by 2023 at the latest.
The half-year financial report 2020 of Medios AG is available for download on the website https://medios.ag/en/investor-relations/financial-reports/
* EBITDA and EBT are adjusted for special expenses for stock options and depreciation of the customer base.
About Medios AG
Medios AG is Germany’s first publicly listed Specialty Pharma company. The shares (ISIN: DE000A1MMCC8, DE000A288821) are listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard).
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf|
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